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go over the fiscal cliff. take $1.2 trillion out of spending and tax hikes, stops the spending. mandatory spending cuts across the board. you know what? the only way to do it. only way to do it. everything else is chump change. >> dana: how do you deal with deficit reduction if you raise the taxes on a portion of the country that will pay for the government for 8.5 days? >> bob: you couple that with the social security adjustments and medicare. 'canes that is not what geithner put on the table. >> dana: that is going to be on -- >> bob: that is what is going to be on the table. >> dana: republicans held their feet on the fire. >> bob: whatever it took. >> greg: i used to think howard dean was a proctologist because he had his head up his butt but he pulled the curtain back. it's never about raising taxes on the rich because you run out of rich. >> andrea: right. >> greg: that is the point. >> eric: raise tax on everyone who pays taxes or everyone? everyone means the poor and 47% will start paying. >> greg: if you raise taxes up 2%, eight days of government? >> andrea: the dirty
go over the fiscal cliff. take $1.2 trillion out of spending and tax hikes, stops the spending. mandatory spending cuts across the board. you know what? the only way to do it. only way to do it. everything else is chump change. >> dana: how do you deal with deficit reduction if you raise the taxes on a portion of the country that will pay for the government for 8.5 days? >> bob: you couple that with the social security adjustments and medicare. 'canes that is not what geithner put...
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we will see. >> ruth from tell. >> i am in agreement with the fiscal cliff, you are my hero. we. >> robert, e-mail, perfect solution, again you nailed it, neil. >> jay from arizona, to the super hero i am glad someone is coming to the aid of the country. if you want do be a super hero you may want to turn your tall ends to educate the people on economics of country. >> that is what i do as a mortal on this follow show and on fox business network each day, jay every day, without a super her overoutfit. >> and i often watch with my dad and i think you are funny but i wonder, was he an odd kid? you seem like you would have done some odd things? >> well, if you call always worrying about the planet trying to say that the odds, well, guilty. >> kathy from hotmail, i love you, not in a romantic we because you saw it as it is. why not run for budget? i was too busy being a super hero, leaving mere mortals to lead. >> from north carolina, thanks for chewing out congress, and i am thinking of watching "lincoln" rather than fixing the economic problems. any in the of harry reid getting
we will see. >> ruth from tell. >> i am in agreement with the fiscal cliff, you are my hero. we. >> robert, e-mail, perfect solution, again you nailed it, neil. >> jay from arizona, to the super hero i am glad someone is coming to the aid of the country. if you want do be a super hero you may want to turn your tall ends to educate the people on economics of country. >> that is what i do as a mortal on this follow show and on fox business network each day, jay every...
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cliff -- the real fiscal cliff is national bankruptcy, and its imminent if we don't cut spending and entitlements . obama is a bully, inflection i believe, making demands we can't accept because his demands involve spending increases, no spending reductions, tax increases on two percent of people who won't do anything with revenues. it's totally unacceptable. at least under the fiscal cliff we have some mandatory cut, albeit us proportionately to defense spending. but it's better than accepting obama's terms crammed down our throat. boehner needs to get a told of this pr machine and paint obama as the one who is holding the country hostage. he wants to talk about holding the middle class hostage. no, it's him holding the entire country hostage and our kids hostage to his reckless spending and cynical refusal to enter the entitlement reform game. >> i don't even want to hear more about taxes. juan, shaking your head. >> i hear you, gentlemen. you guys are wonderful. merry christmas. but sean you said hyperpartisanship, and david talks about inflexibility. you know, and i'm thinking to
cliff -- the real fiscal cliff is national bankruptcy, and its imminent if we don't cut spending and entitlements . obama is a bully, inflection i believe, making demands we can't accept because his demands involve spending increases, no spending reductions, tax increases on two percent of people who won't do anything with revenues. it's totally unacceptable. at least under the fiscal cliff we have some mandatory cut, albeit us proportionately to defense spending. but it's better than accepting...
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slope to a cliff. you're wrong, sir. good night. >> that's a great way to decide it. >> just because you're a -- >> guys, what's for dinner? >> i spend a lot of time on cnbc because you're outnumbered doesn't mean you're wrong. >> good point. >> jared and peter, thanks very much. maybe we'll have both of you back. we'll see. all right. we're waiting on news from the supreme court. they could finally decide to take up the issue of gay marriage today. next in the spinning, boehner and obama one on one. watch out, mr. speaker. you know the president knows how to drive to the hoop. "the cycle" rolls on friday, december 7th. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to
slope to a cliff. you're wrong, sir. good night. >> that's a great way to decide it. >> just because you're a -- >> guys, what's for dinner? >> i spend a lot of time on cnbc because you're outnumbered doesn't mean you're wrong. >> good point. >> jared and peter, thanks very much. maybe we'll have both of you back. we'll see. all right. we're waiting on news from the supreme court. they could finally decide to take up the issue of gay marriage today. next in...
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cliff." >> you got it nail this down. uncertainly is killing us. >> reporter: top economists came to capitol hill thursday to talk about the impact of tax increases and government spending consults on the middle class. >> creating jobs -- >> reporter: president obama and house speaker john boehner spoke on the phone wednesday but publicly are holding firm on their positions. the white house has made clear the country could go over the cliff if republicans refuse to raise taxes on the top 2% of american earners. >> to do that to 98% of the american people, because of an insistence that the wealthiest americans get a tax cut would be profoundly wrong. >> reporter: republican leaders say they will close loopholes and eliminate tax breaks but bush-era tax cuts must be extended to all americans. >> reporter: the standoff and debt concerns ryan. so much so, that he is the guy if the suit dancing gangnam style with former senator alan simpson. the group the can kicks back is working to get young people involved in fixing the deb
cliff." >> you got it nail this down. uncertainly is killing us. >> reporter: top economists came to capitol hill thursday to talk about the impact of tax increases and government spending consults on the middle class. >> creating jobs -- >> reporter: president obama and house speaker john boehner spoke on the phone wednesday but publicly are holding firm on their positions. the white house has made clear the country could go over the cliff if republicans refuse to...
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cliff which would trigger tax cuts and spending increases unless taxes increase on the top two percent of wage earnings. >> i want you you to understand when it comes to raising taxes on the wealthy. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy. >> all right. it appears the very definition of the american dream is now being rewritten by president barack obama. now, today our commander-in-chief publicly said he's not going to play games with the fiscal cliff, but that is just not reality. right now the president is playing a very dangerous game of chicken and this is with your paycheck and the american dream. meanwhile, the republicans have allowed themselves to get caught in a circular firing squad. they're negotiating publicly among themselves while true conservatives and tea party members are being removed from key committees. today speaker john boehner adopted the president's class wawarfare rhetoric. shocki
cliff which would trigger tax cuts and spending increases unless taxes increase on the top two percent of wage earnings. >> i want you you to understand when it comes to raising taxes on the wealthy. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy. >> all right. it appears the very definition of the...
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twenty-six days until we fall off the fiscal cliff. is that what democrats want us to do? pictures seem so. we go live to capitol hill in 10 minutes. while ngress talked about wanting to cut excess spending, the nbers may tell a different story. i will break it down coming up next. you stl think you're colder than me? nah. don tell me. tell tiny! [ ice crackling ] [ knuckles cracking ] and who are you supposed to be, back-up? handle it. what you looking at? ha! cat-like reflexes... whoa! [ male announcer ] the coors light silver bullet pint. it's bigger. it's resealable. it's still the coldest. don't you do it. don't you do it! [ male announcer ] frost brewed coors light. gerri: where would we be without senator tom coburn? without the oklahoma taxpayer dollars? this fellow brought us this image. your member this? the shrimp on on the treadmill. does anyone have? @%e national science foundation studying the effects on disease. they decided to do this, and they spend 500,000 taxpayer dollars doing this study. if you can get scieists to ste money, the senator is back with an
twenty-six days until we fall off the fiscal cliff. is that what democrats want us to do? pictures seem so. we go live to capitol hill in 10 minutes. while ngress talked about wanting to cut excess spending, the nbers may tell a different story. i will break it down coming up next. you stl think you're colder than me? nah. don tell me. tell tiny! [ ice crackling ] [ knuckles cracking ] and who are you supposed to be, back-up? handle it. what you looking at? ha! cat-like reflexes... whoa! [ male...
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the other thing that will happen with the fiscal cliff is the massive withdraw of government spending and we haven't talked about that as much as taxes. people with less money because of tax cuts going away would have less money to spend into the economy but also the federal government withdrawing federal spending from parts of the economy that are used to getting it, the military, et cetera but other sectors nonmilitary. that's the other piece that could hurt people. >> when we talk about the fiscal cliff and back and forth that is happening between the white house and the hill, i guess i'm confused because on one hand there is a sense that this is all par for the course, they know they're going to get a deal done, it's fine, everything is good and then there's also this sort of the pr blitz which is, we are very far from a deal. this is what ayman alluded to this, the speaker had a press conference a few minutes ago. david axelrod giving his take and john boehner giving his take. let's take a listen. >> you saying then for pr purposes -- >> the president and the speaker are very flu
the other thing that will happen with the fiscal cliff is the massive withdraw of government spending and we haven't talked about that as much as taxes. people with less money because of tax cuts going away would have less money to spend into the economy but also the federal government withdrawing federal spending from parts of the economy that are used to getting it, the military, et cetera but other sectors nonmilitary. that's the other piece that could hurt people. >> when we talk...
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getting past the fiscal cliff is an imperative. we are having a one-sided conversation. the republicans have put out a plan saying raise revenue from reach people, banseed, spending cuts, and that landed with a thud over in the white house, no response, and the president has yet to put out a balanced plan, and what we got is i want $1.6 trillion in tax revenue. give it to me. gerri: and rid of the debt ceiling. >> we've seen this movie before. no ceiling, give me the revenue, i'll spend it. now what? until cuts are in place, this doesn't make sense. gerri: i want to hear what ann coulter said about the debate. >> don't cave on everything, but republicans feed into what the media is telling america -- >> wait a minute, i want to understand. you are saying then for pr purposes, they should give into obama on the tax rate. >> not exactly. well, yeah, i guess i am -- >> you're saying obama, who is -- we don't have a revenue problem, ann. >> we lost the election, sean. gerri: what do you think of this? as a strategy, maybe it's the right thing? acknowledge that the american p
getting past the fiscal cliff is an imperative. we are having a one-sided conversation. the republicans have put out a plan saying raise revenue from reach people, banseed, spending cuts, and that landed with a thud over in the white house, no response, and the president has yet to put out a balanced plan, and what we got is i want $1.6 trillion in tax revenue. give it to me. gerri: and rid of the debt ceiling. >> we've seen this movie before. no ceiling, give me the revenue, i'll spend...
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on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish the rich and perceived reward for base. doesn't put more money in the federal treasury. the republicans give in to this in spirit of compromise, i respect alan simpson. but this is a time for the republicans to say no to spending no, borrowing. no to taxes. do you any any republicans sent to congress to facilitate the president spending to us oblivion? they no. or they will be sent home. >> president feels like he was elected on a campaign where he mentioned on the stump many times, raising tax rates. >> i understand that. >> but under our system the congress writes the law and president
on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish...
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saying my goodness if we engage in this -- if we go over this fiscal cliff we're hurting the job market. it's fascinating to see how they change messages day by day. another example is the increase in the medicare eligibility age. this is a big thing on their wish list. this does not save money. this raises the cost of health care if you look economywide. there's not a good policy reason to do this. but it becomes a trophy. a substantiveless trophy. >> right. okay. julian, boehner's office is denying that they asked for permanent tax cuts for the rich saying any talk of making any rates permanent is moot because part of their offer is doing comprehensive tax reform next year. are you buying that? >> no. i think it's important right now to step back and understand the stage craft that the losing side in these debates always has to go through. i went through two of these negotiations very intimately when i was a staff government reform committee in '91. it's slow walking. when one side realizes they've lost debate but not able to go to their caucus and tell them they lost. in boehner's ca
saying my goodness if we engage in this -- if we go over this fiscal cliff we're hurting the job market. it's fascinating to see how they change messages day by day. another example is the increase in the medicare eligibility age. this is a big thing on their wish list. this does not save money. this raises the cost of health care if you look economywide. there's not a good policy reason to do this. but it becomes a trophy. a substantiveless trophy. >> right. okay. julian, boehner's...
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it's going to be driving the conversation on the fiscal cliff. we only have 25 days until the tax hikes and spending cuts start to take effect. here is the thing. this number came in much better than expected, don. so the bad part about this is that it may not motivate all those politicians on capitol hill as much as it may have, if it came in much weak er. this may not light the fire, so to speak. that could be the downside to the upside surprise to the number. don? >> alison, stick around. we'll get back to you as well. >>> from wall street now to washington where the white house is keep iing a close eye on today's numbers. brianna keilar joins us now live. good morning, brianna. >> reporter: good morning to you, don. we're still awaiting reaction from the white house and also from congssional republicans. they've long said at the white house, take a look at the trend of these nuchls over the month. so this number, paired with the last couple of months on its face, they will say the trajectory looks good, obviously more needs to be done. maybe
it's going to be driving the conversation on the fiscal cliff. we only have 25 days until the tax hikes and spending cuts start to take effect. here is the thing. this number came in much better than expected, don. so the bad part about this is that it may not motivate all those politicians on capitol hill as much as it may have, if it came in much weak er. this may not light the fire, so to speak. that could be the downside to the upside surprise to the number. don? >> alison, stick...
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ted nugent weighs in on the fiscal cliff fiasco something he said we drove off a long time ago. he writes in "the washington times" social security, medicaid and medicare spending needs to be slaughtered and let's stop the insanity of the right to vote of any american on welfare. once they get off well taer and are self-sustaining they get their right restored. no american on welfare should have the right to vote for tax increases on those americans working and paying taxes to support them. >>> and "the daily show's" jon stewart says maybe we should go off the fiscal cliff. >> back and forth of offers. it's pretty clear the republicans aren't going to come to the table with anything reasonable. i'll be the one to say it, i know it will be disastrous and doom our economy for years to come, let's go over the [ bleep ] cliff. fine. just leave the negotiating tables and send us over the cliff. you know why? at least for a few seconds, it will feel like we're flying. >> all right. that's going to wrap things up for me today. thanks for your time. see you back here tomorrow at 11:00 e
ted nugent weighs in on the fiscal cliff fiasco something he said we drove off a long time ago. he writes in "the washington times" social security, medicaid and medicare spending needs to be slaughtered and let's stop the insanity of the right to vote of any american on welfare. once they get off well taer and are self-sustaining they get their right restored. no american on welfare should have the right to vote for tax increases on those americans working and paying taxes to support...
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if the fiscal cliff has, we'll go in recession. people will put off improving their home and it will impact my buds. >> abuds -- my business. >> you have more of the tax money going in, more money going in taxes. less goes in business that fix up and take care of business. we are not going to upgrade as many kitchen or replace as many appliances. the air conditioning stoves down the line. >> he said he will likely lay off employee to juggle the cost. >> big business, they if v full-time accountant and lawyers on their staff. it's part of the overhead and administration but for us it's extra expense off the top. >> it goes across the country. the latest gallup small business index released today find small business owners net capital spending inintentions for 12 months plunged to negative 14 in november. the lowest level two years. >> the dow lost 75. s&p 500 fell nine. nasdaq finished 22. down. finished 22 down. susan rice is out as potential secretary of state. we talk about that with the fox all-stars and the other cabinet shakeu
if the fiscal cliff has, we'll go in recession. people will put off improving their home and it will impact my buds. >> abuds -- my business. >> you have more of the tax money going in, more money going in taxes. less goes in business that fix up and take care of business. we are not going to upgrade as many kitchen or replace as many appliances. the air conditioning stoves down the line. >> he said he will likely lay off employee to juggle the cost. >> big business,...
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the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of fracturing that we're doing, the fact that housing has been doing tremendously well, and interest rates remain very low with prices, so there's some sense that there's a bit of a renaissance on the horizon, and if the government doesn't mess that up too much, 2013 could end up being as good as 2012 if not a little better. i don't know if you completely disagree with that, peter, but i think there's enough good going on that it could offset the bad. >> to you think it could go up to 10% unemployment. do you agree with peter on that? >> i don't know. i don't know if it will go go up
the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of...
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i'm going to tell you what others won't about the fiscal cliff. the head of starbucks said it will damage the u.s.'s reputation and shenanigans from capitol hill and with a cool 500 bucks to spend, should you use them now for a share in apple? apple says it will build some of the iconic mac computers in the u.s. listen to what apple ceo tim cook said to nbc's brian williams. >> so we've been working for years on doing more and more in the united states. next year, we will do one of our existing mac lines in the united states. >> but apple stock has been singing the blues for a few months. plummeted 25% off the all-high and a beating this week. 6.5% lower yesterday. apple up more than a percent today. kurndly around $544 a share. is now a good time to get in. you're all asking me. i'm asking katie stockton in connecticut. katie, is apple stock down off its high a phenomenally successful stock to hold for so many investors and showing the chart again. you look at technical trading patterns in the stock. do they tell you it's time to buy, sell or hol
i'm going to tell you what others won't about the fiscal cliff. the head of starbucks said it will damage the u.s.'s reputation and shenanigans from capitol hill and with a cool 500 bucks to spend, should you use them now for a share in apple? apple says it will build some of the iconic mac computers in the u.s. listen to what apple ceo tim cook said to nbc's brian williams. >> so we've been working for years on doing more and more in the united states. next year, we will do one of our...
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>> if you take them at their word, it sounds like the president is anxious to go over the fiscal cliff, and he leaves very little room for republicans to negotiate with him with a 1.7 trillion dollar tax increase, 50 billion more in stimulus spending, and absolutely no expenditure reductions that are going to take place right now. i mean, from the point of view of republicans, you're going to get more spending decreases if you go over the fiscal cliff than if you deal with president obama. >> greta: well, it appears to many in the city that it's politico check mate for the president. if we go over the fiscal cliff, what it means is the taxes will go up on the wealthy, the big earners. it also goes up on the middle class. i assume the middle class will look to the rawp republicans foe fact that their taxes come up so political check mate. >> i'm not so sure. president obama could avoid that very simply by putting maybe two or three to one expenditure reductions on the table for revenue increases, something like sim responsibl simpson bow. he has a formula given to him by a commission he
>> if you take them at their word, it sounds like the president is anxious to go over the fiscal cliff, and he leaves very little room for republicans to negotiate with him with a 1.7 trillion dollar tax increase, 50 billion more in stimulus spending, and absolutely no expenditure reductions that are going to take place right now. i mean, from the point of view of republicans, you're going to get more spending decreases if you go over the fiscal cliff than if you deal with president...
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economy over the fiscal cliff, and around the capitol there's largely the sound of silence as the white house and congress try to work out a deal behind closed doors. the president has no public events on his schedule. and all through the house, not a creature was stirring except, that is, for john boehner, who emerged to gavel the house into session this afternoon after a week's recess with his trademark holiday cheer. >> washington has a spending problem. now, the president doesn't agree with our approach. he's got an obligation to put forward a plan that can pass both chambers of the congress because right now the american people have to be scratching their heads and wondering when is the president going to get serious? >> i'm sorry, i meant his trademark ba ham bug which he's been doling out by the sleigh load. >> there's a stalemate. let's not kid ourselves. we have a debt problem that is out of control. we've got to cut spending. washington has got a spending problem. just more of the same. >> more of the same indeed. and as minority leader nancy pelosi today declared with america
economy over the fiscal cliff, and around the capitol there's largely the sound of silence as the white house and congress try to work out a deal behind closed doors. the president has no public events on his schedule. and all through the house, not a creature was stirring except, that is, for john boehner, who emerged to gavel the house into session this afternoon after a week's recess with his trademark holiday cheer. >> washington has a spending problem. now, the president doesn't...
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president obama has the leverage in the fiscal cliff fight. he's willing to let the tax go up on the middle class. on the debt increase he doesn't have the same leverage. bob woodward pointed out that tim geithner said to president obama if the republicans stick to their guns on the debt limit bill you cannot reto it. the consequences will be so clam to us that you cannot veto it. so obama would have capitulated. megyn: that's what simon is saying now. that we shouldn't put the country in that position. >> the only way we'll get action on this debt. we keep spending and spending and raising our debt by $6 trillion every obama term. that's what catastrophic. the republicans need to stick to the boehner rule. a dollar of spending cuts for every dollar in spending increases. why give in on taxes and the fiscal cliff fight when you will have all the leverage. megyn: simon? >> in the rasmussen poll that came out today the republicans lost 10 points since the election in the congressional generic fight. they are losing this economic argument right n
president obama has the leverage in the fiscal cliff fight. he's willing to let the tax go up on the middle class. on the debt increase he doesn't have the same leverage. bob woodward pointed out that tim geithner said to president obama if the republicans stick to their guns on the debt limit bill you cannot reto it. the consequences will be so clam to us that you cannot veto it. so obama would have capitulated. megyn: that's what simon is saying now. that we shouldn't put the country in that...
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the big battle over the fiscal cliff getting increasingly contentious. as we know, time is running out. just 27 days to go until more than $500 billion in automatic spending cuts and tax hikes actually kick in. now, the president, he is standing firm saying there's not going to be a deal medicals taxes for the wealthiest americans go up. the president is offering $400 billion in cuts from entitlements, but he also wants to spend $50 billion more on infrastructure. go to house speaker john boehner. he is offering $800 billion in increased revenue. he also wants much deeper cuts in entitlements and $800 billion in other cuts many spending. we've got reporters -- i want to start off with you. dana bash on the hill. a standoff here, republicans essentially saying, look, the president is not being reasonable here, and then you have the white house saying this is magic beans and fairy dust. is this a lot of posturing here? are we really at an impasse? >> yes to both of those questions. there is a lot of post urg, but we do seem to be at an impasse. i want to s
the big battle over the fiscal cliff getting increasingly contentious. as we know, time is running out. just 27 days to go until more than $500 billion in automatic spending cuts and tax hikes actually kick in. now, the president, he is standing firm saying there's not going to be a deal medicals taxes for the wealthiest americans go up. the president is offering $400 billion in cuts from entitlements, but he also wants to spend $50 billion more on infrastructure. go to house speaker john...
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and tax issues on the table and the so-called cliff, fiscal cliff, he also wants to deal with raising the debt ceiling which caused so much controversy a year and a half ago. take a listen to the president today. >> if congress in any way suggests they are going to tie negotiations to debt ceiling votes, and take us to the brink of default once again, as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game. >> now, republics may not want to include the debt ceiling extension lifting that ceiling in these negotiations because the ceiling doesn't need to be lifted for a couple more months. if they come back next year and deal with that part of this, they might have more leverage as we get closer and closer to that deadline to force the president into more spending cuts than he wants right now, harris. >> harris: well, editor all those americans wondering and watching rights now, 27 days, how close are we. we heard the speaker say he is waiting to hear back from the white house. i would think that would be in
and tax issues on the table and the so-called cliff, fiscal cliff, he also wants to deal with raising the debt ceiling which caused so much controversy a year and a half ago. take a listen to the president today. >> if congress in any way suggests they are going to tie negotiations to debt ceiling votes, and take us to the brink of default once again, as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game....
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cliff." across-the-board spending cuts and tax increases as we all know will kick in if a budget agreement isn't reached by the end of the month. the president also met with ceos of some of the nation's largest companies hoping to convince them of the need for higher tax rates at upper income levels. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering but, rather, because we need to raise a certain amount of money. >> house majority leader eric cantor says more needs to be done about spending right now. >>> meanwhile, public policy polling conducted an unusual survey to test american knowledge about debt reduction policy. people were asked what they thought of the panetta burns planning, something that doesn't even exist. one-fourth of the people took a stance on it anyway. 8% are in support by golly. 17% opposed. >> that's right. it's important to do research. >> absolutely. >> do your homework. >>> apple stock is coming off one of its worst sections on
cliff." across-the-board spending cuts and tax increases as we all know will kick in if a budget agreement isn't reached by the end of the month. the president also met with ceos of some of the nation's largest companies hoping to convince them of the need for higher tax rates at upper income levels. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering but, rather, because we need to raise a certain amount of money. >> house majority leader...
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more on the new developments on the fiscal cliff. plus north korea successfully launches a rocket, cheers erupt in yeongpyeong, another escalation in the korean nuclear crisis. two of our guests joining us say this is a very big deal. hearings underway on human growth hormone and the nfl, what will the league decide in we'll go in depth today. bill: see you then at the top of the hour. have a look at this. will you? 33 of these found by border patrol miles from mexico. martha: it's a great store row. bill: you know what they are? martha: i do, but people should stick around to find out, pretty interesting. we'll be right back. table till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable nutrition they need, fruit taste they love. could've had a v8. or...try kids boxes! could've had a v8. you can't argue with nutrition you can see. great grains. great grains cereal starts whole and stays whole. see the seam? more pcessed flakes look nothing like natural grains. i'm eating w
more on the new developments on the fiscal cliff. plus north korea successfully launches a rocket, cheers erupt in yeongpyeong, another escalation in the korean nuclear crisis. two of our guests joining us say this is a very big deal. hearings underway on human growth hormone and the nfl, what will the league decide in we'll go in depth today. bill: see you then at the top of the hour. have a look at this. will you? 33 of these found by border patrol miles from mexico. martha: it's a great...
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walk any agreement and walk our economy right up to the fiscal cliff. doing that puts jobs in our country in danger. jeopardizes a golden opportunity to make 2013 the year that we enact fundamental tax reform and entitlement reform to begin to solve our country's debt problem and, frankly, revenue problem. as you can see from this chart, real revenue growth is critically important as long as real cuts in spending if we're going to solve our long term fiscal problem. as i said five weeks ago, the election wasn't a mandate to raise taxes on small businesses. it was a mandate for both parties to work together to take on the big challenges that our country is facing. republicans are ready and eager to do just that. we made a reasonable offer. it's now up to the white house to show us how they'll cut spending and give us the balanced agreement that the president has talked about for week. if the president will step up and show us he's willing to make the spending cuts that are needed, i think we can do some real good in the days ahead. if not, he wants to ke
walk any agreement and walk our economy right up to the fiscal cliff. doing that puts jobs in our country in danger. jeopardizes a golden opportunity to make 2013 the year that we enact fundamental tax reform and entitlement reform to begin to solve our country's debt problem and, frankly, revenue problem. as you can see from this chart, real revenue growth is critically important as long as real cuts in spending if we're going to solve our long term fiscal problem. as i said five weeks ago,...
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we'll try to listen in a little more to see what he has to say about the fiscal cliff and otherwise. >> entirely on spending cuts, or a variation that has emerged is that we can do so while still lowering rates by closing loopholes and deductions. and you've heard from my team but let me just repeat. we don't have any objection to tax reform, tax simplification. closing loopholes, closing deductions, but there is a bottom line, an amount of revenue that is required in order for us to get a real, meaningful deficit reduction plan that hits the numbers that are required for us to stabilize our debt and deficits. and -- [. [no audio] kwroe. jenna: we gave it our best shot. sometimes we can't do it. the president speaking at the white house at the business roundtable about the economy. fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president referring to that as well. as we continue to get that feedback you can check it out
we'll try to listen in a little more to see what he has to say about the fiscal cliff and otherwise. >> entirely on spending cuts, or a variation that has emerged is that we can do so while still lowering rates by closing loopholes and deductions. and you've heard from my team but let me just repeat. we don't have any objection to tax reform, tax simplification. closing loopholes, closing deductions, but there is a bottom line, an amount of revenue that is required in order for us to get...
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cliff. if they don't, there are fears automatic tax increases and spending cuts could push the economy back into a recession. >>> bonds will continue to be purchased at a cost of $85 billion a month from the federal reserve. it's a move to keep interests low and unemployment rates even lower until the outlook at the labor market improves sub staeshl -- substantially. >>> john mcafee in florida this evening. he arrived at miami international just before 5:00 pm. he is in florida after being kicked out of guatemala for entering that country illegally. he snuck in to escape being questioned by police in belize on the death of his neighbor. >> it was a very tricky negotiation getting out of guatemala. they wanted to return me to belize. the problem was that the police in guatemala are going to be signing a peace accord early next year. >> there is no sign of mcafee at this hour. no one knows where he went after he left the airport or what he plans to do next. >>> iphone users rejoice! you now ha
cliff. if they don't, there are fears automatic tax increases and spending cuts could push the economy back into a recession. >>> bonds will continue to be purchased at a cost of $85 billion a month from the federal reserve. it's a move to keep interests low and unemployment rates even lower until the outlook at the labor market improves sub staeshl -- substantially. >>> john mcafee in florida this evening. he arrived at miami international just before 5:00 pm. he is in...
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lori: house speaker john boehner today trying to shift the fiscal cliff debate back to, spending. here is what he said earlier today. >> here we are, at the 11th hour and the president still isn't serious about dealing with this issue right here. it's this issue, spending! now you go back, i want to talk about polling, most americans would agree that spending is a much bigger problem than raising taxes. they want us to deal with this, in a responsible way. lori: just shortly after that fox news's ed henry trying to get a comment from the president on the fiscal cliff negotiations about the issue that john boehner just raced about spending cuts or lack thereof. listen to this. >> how are you doing, sir? >> what do you say, i'd? >> great. how do you feel about a deal? optimistic? >> still work in progress. >> speaker boehner says he is waiting to hear more from you, sir? >> merry christmas. lori: what a permagrin. lou dobbs dobbs here with the take. >> good try, ed. he will not give up anything to ed henry he wouldn't first to john boehner. i think john boehner did himself a lot of
lori: house speaker john boehner today trying to shift the fiscal cliff debate back to, spending. here is what he said earlier today. >> here we are, at the 11th hour and the president still isn't serious about dealing with this issue right here. it's this issue, spending! now you go back, i want to talk about polling, most americans would agree that spending is a much bigger problem than raising taxes. they want us to deal with this, in a responsible way. lori: just shortly after that...
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by now you likely know that the fiscal cliff is a series of spending cuts and expiring tax credits set to take effect in 27 days. today the president made the case to a group of top business leaders. his plan calls for a higher tax rate on earned income exceeding $250,000 and republicans say that would be a job killer. though are pushing for raise revenue by closing tax loopholes and deductions, something that the president says would not raise enough cash. wendell is live with more on the white house. how much much revenue would the president's plan raise by raising the tax rates for high earners? >> about $1 trillion the next 10 years from the rate increase. that is just part of a package that also includes limits on deductions and tax credits and aims to pull in a total of $1.6 trillion. republicans want to keep tax rates the same b end deductions and loopholes but obama says that will not get the job done. >> it is not possible to raise the amount of revenue required for a balance the package if all you rely on is closing deductions and loopholes. let me amend that. it is possible
by now you likely know that the fiscal cliff is a series of spending cuts and expiring tax credits set to take effect in 27 days. today the president made the case to a group of top business leaders. his plan calls for a higher tax rate on earned income exceeding $250,000 and republicans say that would be a job killer. though are pushing for raise revenue by closing tax loopholes and deductions, something that the president says would not raise enough cash. wendell is live with more on the...
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cliff, they seem to be willing to go down that road of big government, big spending, no spending restraints, higher taxes. that is not what the republican party has ever been about. now enough republicans have gone down that road where we're in this mess now but what demint is saying look as conservatives we have to start talking about and fighting for first principles. that is the constitution, limited government, fiscal responsibility economic freedom. republican establishment is not clearly making that case. it is now up to conservatives to do that. demint will be leading charge. jon: he is the hero of the tea party which did so much damage to liberals in the 2010 election. >> done so much damage to themselves. harry reid would all agree would not be in the senate if not for the tea party nominating sharron angle, not not a strong candidate. delaware, todd aiken in missouri. tea party done a lot of damage to republican party. you would probably have senate republican leader mitch mcconnell if not for the tea party. to monica's point, jim demint will create problems from somebody like joh
cliff, they seem to be willing to go down that road of big government, big spending, no spending restraints, higher taxes. that is not what the republican party has ever been about. now enough republicans have gone down that road where we're in this mess now but what demint is saying look as conservatives we have to start talking about and fighting for first principles. that is the constitution, limited government, fiscal responsibility economic freedom. republican establishment is not clearly...
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. >> we're now four weeks from that so called fiscal cliff and talks between democrats and republicans in washington have stalled. january 1 bush era tax cuts cuts affecting defense and social spending. house republicans offered a plan including $800 billion in revenue. the president says it's not good enough. >> we're going to have to see the rates on the top 2% go up z we're not going to be able to get a deal without it. it's not:hlj partisan. >> the plan is also not popular with some republicans. opular with some republicans. conceding that the federal government needs more money negotiating with ourselves and treating the proposal like it's serious. >> there is one area that may have found common ground. raising the age when seniors can receive some medicare. >> an eight day strike by shippingl2?sq)ks. both sides agreed to mediation. lines being7kuñ honored by 10,0 long shore men. the strike against 14 shipping lines is costing the u.s. economy $1 bi=es; a day in lost trade. the union jobs claims jobs being shipped overseas. the port says it's offering clerks lifetime job secur
. >> we're now four weeks from that so called fiscal cliff and talks between democrats and republicans in washington have stalled. january 1 bush era tax cuts cuts affecting defense and social spending. house republicans offered a plan including $800 billion in revenue. the president says it's not good enough. >> we're going to have to see the rates on the top 2% go up z we're not going to be able to get a deal without it. it's not:hlj partisan. >> the plan is also not popular...
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so the fiscal cliff is looming. there are a the lo of people who say the republicans need to stand together and if the president isn't gog deal fairly and offer up some spending cuts and talk about entitlement reform, the republicans need to be willing to hole hands and jump off the fiscal cliff with the president. are you ready? >> we would prefer that didn't happen. there are a lot of bad outcomes. you got a lot of analysis that's been done, ernst says if we go over the fiscal cliff or raise taxes it will cost us over 700,000 jobs, reduce economic growth, lower take home pay, all those things. that's a bad scenario. the president has made it very clear, tim geithner, his treasury secretary said a couple days ago, absolutely we're ready to go over the cliff. republicans don't think that's the solution. but i do think that if he gets what he wants, he gets higher taxes, he gets defense cuts, if we go over the cliff. so i don't think there is a lot of incentive on the president's part right now to be at the table to
so the fiscal cliff is looming. there are a the lo of people who say the republicans need to stand together and if the president isn't gog deal fairly and offer up some spending cuts and talk about entitlement reform, the republicans need to be willing to hole hands and jump off the fiscal cliff with the president. are you ready? >> we would prefer that didn't happen. there are a lot of bad outcomes. you got a lot of analysis that's been done, ernst says if we go over the fiscal cliff or...
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than they would have otherwise because of the fiscal cliff. this uncertainty, this overhang, was having a tremendous impact. that will also put pressure on the white house. the last thing you need is people underspending going into the holidays. >> their customers are those that will be primarily affected by the tax increase, a $2,000 average increase. i would imagine the majority of walmart customers would feel that immediately. >> working middle class. >> they are. steve rattner, walmart really focuses on what politicians call walmart moms. and they and other retailers are seeing in all of their internal data that their shoppers, their consumers, are very nervous. consumer confidence drives what happens between now and the end of the year. and this will have a major impact on the economy, as you showed us in your charts last time, if the white house and congress fail to make a deal. >> yeah, and you're seeing it elsewhere as well. i think business is very clearly not hiring as many people, holding back on investment. ben bernanke said yester
than they would have otherwise because of the fiscal cliff. this uncertainty, this overhang, was having a tremendous impact. that will also put pressure on the white house. the last thing you need is people underspending going into the holidays. >> their customers are those that will be primarily affected by the tax increase, a $2,000 average increase. i would imagine the majority of walmart customers would feel that immediately. >> working middle class. >> they are. steve...
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yet, here we are on the edge of this fiscal cliff. we're not sure what will happen. many people predicting we'll go over the cliff. if we go over the cliff and the automatic spending cuts take effect and the tax increases take effect, what do you think happens to the economy? >> well, at the brt meeting that you mentioned, where the president was nice enough to come over, the question was asked, if we go over the fiscal cliff, how many businesses in this room will reduce capital investment? remember, i just said -- and it's very demonstrable that capital investment is what drives gdp growth rate and job creation. that tells a story right there. if we go across the fiscal cliff, we will have an economic contraction or slow down at best. >> how are things looking right now ahead of the holidays? i'm sure your company is real busy, fedexing gifts. what are your expectations for this holiday season? >> well, you know, the 300,000 wonderful teammates of fedex are working very hard. we publicly forecast a couple weeks ago that on the 10th we would move 19 million shipments
yet, here we are on the edge of this fiscal cliff. we're not sure what will happen. many people predicting we'll go over the cliff. if we go over the cliff and the automatic spending cuts take effect and the tax increases take effect, what do you think happens to the economy? >> well, at the brt meeting that you mentioned, where the president was nice enough to come over, the question was asked, if we go over the fiscal cliff, how many businesses in this room will reduce capital...
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america goes off the fiscal cliff in 25 days triggering massive tax hikes and spending c cuts. >>> no sign of president obama, the first lady, sash has or malia, this year it's all about bo. the card was designed by iowa artist and dog lover lorissa cable. >>> a holiday surprise for some walmart shoppers in south florida. secret santas paid off their layaway bills. >> my layaway is paid? >> yep. the rest of your balance is paid off. >> are you serious? >> yes, very serious. you no longer own a balance. >> tell santa thank you very much! >> an athletic club pitched in $500 which helped six families. several layaway shoppers say they wish they could meet their secret santas to give them a hug and kiss and say thank you. >>> time for your early reads. your local news making national headlines. we begin with tacoma's news tribune which says day one of legalized marijuana was pretty chill. there were no run on doritos, increased in car wrecks, no crazy displays of joy. >>> to florida, the sun sentinel newspaper, florida wildlife officials announcing the 2013 python challenge. it's a huntin
america goes off the fiscal cliff in 25 days triggering massive tax hikes and spending c cuts. >>> no sign of president obama, the first lady, sash has or malia, this year it's all about bo. the card was designed by iowa artist and dog lover lorissa cable. >>> a holiday surprise for some walmart shoppers in south florida. secret santas paid off their layaway bills. >> my layaway is paid? >> yep. the rest of your balance is paid off. >> are you serious?...
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. >>> the fiscal cliff doesn't drop off for almost three weeks but this morning federal agencies have new marching orders from the white house. >> they do. they've been told to prepare for more than $100 billion in spending cuts. susan mcginnis reports there are few signs ever progress to fix this fiscal cliff so far. >> reporter: social security workers marched outside their office in baltimore wednesday. they're protesting the government spending cuts due to kick in at the end ever the year as part of the fiscal cliff. >> we don't want to see our public hurt in any way. >> reporter: just down the road in washington, d.c., the standoff continues. house speaker john boehner says he is still waiting for president obama to make his next counteroffer to the republican plan he rejected. >> we need a response from the white house. we can't sit here and negotiate with ourselves. >> reporter: the president and boehner spoke on the phone wednesday but republicans want more. >> we want to sit down with the. we want to talk specifics. >> reporter: whether the talks happen on the phone or in per
. >>> the fiscal cliff doesn't drop off for almost three weeks but this morning federal agencies have new marching orders from the white house. >> they do. they've been told to prepare for more than $100 billion in spending cuts. susan mcginnis reports there are few signs ever progress to fix this fiscal cliff so far. >> reporter: social security workers marched outside their office in baltimore wednesday. they're protesting the government spending cuts due to kick in at...
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. >> reporter: lawmakers are getting an earful about why they need to avoid the so- called fiscal cliff. >> you gotta nail this down. uncertainty is killing us. >> reporter: top comiftds -- economists came to capitol hill thursday to talk about the impact of tax increases ask government spending cuts on the middle class. >> a couple thousand dollars means a couple months rent for this family. >> reporter: the white house has made clear, the country could go or the cliff -- over the cliff, if republicans refuse to raise taxes on the top 2% of american earners. >> for them to be burdened, unnecessarily, because democrats and republicans aren't coming together to solve this problem, gives you a sense of the costs involved in very personal terms. >> reporter: republican leaders say they will close loopholes and eliminate tax breaks to raise money but insist that bush-era tax cuts must be extended for all americans. >> reporter: the standoff and the country's skyrocketing debt concerns ryan shenecki. so much so that he's the guy in the can suit, dancing gangnam style with the cochair of the
. >> reporter: lawmakers are getting an earful about why they need to avoid the so- called fiscal cliff. >> you gotta nail this down. uncertainty is killing us. >> reporter: top comiftds -- economists came to capitol hill thursday to talk about the impact of tax increases ask government spending cuts on the middle class. >> a couple thousand dollars means a couple months rent for this family. >> reporter: the white house has made clear, the country could go or the...
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it's because the company blamed the fiscal cliff for its dramatically lower fiscal fourth quarter guidance which has sent the stock plummeting. it was down as much as 20% earlier today. the ceo joe kennedy says advertisers are being particularly cautious about spending in january which is included in pandora's fiscal fourth quarter. >> we did reduce guidance. i think it is very prudent because of this unique situation we have in which we're sensitive to the mix of ad spend in january as opposed to february and march. >> now, the last time pandora's stock dropped this much in one day was back in october on reports of apple preparing to launch a streaming music service. wall street analysts are keeping an eye on those very tough competitive issues as well as the fact that pandora spends over half its revenue on music licensing fees. the c.o.o. says he thinks the company is on good track and points to its mobile growth. though, investors do seem skeptical. brian. >> julia, thank you very much for that. we're going to leave it there. running a little short on time. is pandora's plunge a big bu
it's because the company blamed the fiscal cliff for its dramatically lower fiscal fourth quarter guidance which has sent the stock plummeting. it was down as much as 20% earlier today. the ceo joe kennedy says advertisers are being particularly cautious about spending in january which is included in pandora's fiscal fourth quarter. >> we did reduce guidance. i think it is very prudent because of this unique situation we have in which we're sensitive to the mix of ad spend in january as...
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the fiscal cliff potentially sending the economy into recession. the fear of the cliff. is that putting a veil over your eyes and pretending you seeing good news that could make better trades for your portfolio? you need to see the forest for the trees. to help do that, liz saunders in a fox business exclusive, charles schwab's vice president and chief investment strategist. what is the biggest mistake that the investor is making right now as it pertains to navigating that very rocky fiscal cliff landscape? >> they are trying to trade around perceived outcomes. that is fairly treacherous. we don't get a sense that a lot of investors are doing that -- [talking over each other] liz: there were buying in on the dips because they are trading around he headlines. >> there's a lot of tax related strategy happening right now, many of which make a lot of sense, but i have asked the question of loss, what would you put money on a particular outcome? i wouldn't. that is a dangerous strategy. >> one scenario could be as damaging as another. we can gain that at this point, what shou
the fiscal cliff potentially sending the economy into recession. the fear of the cliff. is that putting a veil over your eyes and pretending you seeing good news that could make better trades for your portfolio? you need to see the forest for the trees. to help do that, liz saunders in a fox business exclusive, charles schwab's vice president and chief investment strategist. what is the biggest mistake that the investor is making right now as it pertains to navigating that very rocky fiscal...
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fiscal cliff. >> we don't want to see our public hurt in any way. >> just down the road in washington, d.c., the standoff continues. house speaker john boehner says he's still waiting for president obama to make his next counteroffer to the republican plan he rejected. >> i'm going to need a response from the white house. we can't sit here and negotiate with ourselves. >> the president and boehner spoke on the phone wednesday, but republicans want more. >> we want to sit down with the president. we want to talk specifics. >> whether the talks happen on the phone or in person, here on capitol hill or at the white house, there will be no deal without a compromise on taxes, something that does not appear likely any time soon. >> an obsession to raise taxes is not going to solve the problem. >> treasury secretary timothy geithner said the white house is absolutely willing to go over the fiscal cliff if the gop doesn't agree to raise taxes on the top 2% of earners. while a handful of republicans appears willing to concede that point, the party's position seems unchangeable. >> speaker boeh
fiscal cliff. >> we don't want to see our public hurt in any way. >> just down the road in washington, d.c., the standoff continues. house speaker john boehner says he's still waiting for president obama to make his next counteroffer to the republican plan he rejected. >> i'm going to need a response from the white house. we can't sit here and negotiate with ourselves. >> the president and boehner spoke on the phone wednesday, but republicans want more. >> we want...
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. >> negotiations to avoid the fiscal cliff are stalled and the white house budget office ordthered pentagon to prepy -- ordered the pentagon to start preparing for spending cuts. >>> the san francisco based california institute for medicine has distributed a billion dollars in bond money for stem cell research. the review found too many members of the board are from schools that won funding. they recommended a restructuring to avoid the appearance of conflict of interest. >>> apple and samsung went head to head again over some of its most prized patents. ktvu's ann rubin is live. >> reporter: the judge said she would prefer if both sides went back to the negotiating table but will rule if she has to. neither side is happy. samsung is fighting a judgment against them, apple says they should pay that and more. it stems from a trial over whether they copied apple technology. the jury sided with apple but the company believes it didn't go far enough and it should require some projects be taken off the market. samsung doesn't like the judgment either. they argue it should be revised that the jur
. >> negotiations to avoid the fiscal cliff are stalled and the white house budget office ordthered pentagon to prepy -- ordered the pentagon to start preparing for spending cuts. >>> the san francisco based california institute for medicine has distributed a billion dollars in bond money for stem cell research. the review found too many members of the board are from schools that won funding. they recommended a restructuring to avoid the appearance of conflict of interest....